New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- As per the research report Metrology Services Market published by Reports Insights, the market was worth USD 1.8 Billion in 2022 and is estimated to reach around USD 2.8 Billion by the year 2030, registering a CAGR growth of 5.8%.
Metrology Services Market Size, Share & Trends Analysis, By Product (Coordinate Measuring Machines (CMM) (Bridge machines, Horizontal arm machines, Gantry machines, Articulated arm machines) Optical Digitizers and Scanners (ODS) (3D laser scanners, White light scanners, Laser trackers)), By Application (Power generation, Automotive, Industrial, Aerospace, and Others), By Region and Segment, Forecast Period 2022 – 2030. The aerospace applications are estimated to increase with the fastest CAGR during the forecast period. Metrology-assisted manufacturing and the requirement of metrology tools for measuring sub-micron tolerances in several optical applications are largely used in aerospace.
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Metrology services are mainly offered to several industries for the major purpose of accurate and quality measurement. These services help organizations to improve their manufacturing productivity without having any effect on existing resources. Additionally, these metrology services are primarily adopted to help manufacturers focus on key areas of improvement. Thus, a set of metrology standards have been defined to maintain the accuracy of measurement in any testing equipment.
Furthermore, these services are extensively used in multiple applications such as aerospace, industrial, automotive, power generation, and others to meet the technical and quality processes of component fabrication. Three fundamental types of metrology are adopted by many businesses, namely scientific metrology, legal metrology, and industrial metrology. The mentioned set of metrology standards falls under the category of scientific metrology which includes the international system of units such as the International Committee for Weights and Measures (CIPM), the International Bureau of Weights and Measures (BIPM), and the National Institute of Standards and Technology (NIST) in the U.S.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 2.8 Billion |
| Forecast Period | 2022-2030 |
| CAGR (2022-2030) | 5.8% |
| Base Year | 2021 |
| Study Timeline | 2016-2030 |
| Key Players | Hexagon AB, Carl Zeiss Corporation, Nikon Metrology Inc., Trescal SA, Optical Metrological Services, Danish Micro Engineering A/S, FARO Technologies, Inc., Renishaw plc, Apex Metrology Ltd, Optical Gaging Products, Inc., Atos Se, Infosys Ltd, Kofax Ltd, Eley Metrology Limited |
| By Product | Coordinate Measuring Machines (CMM) (Horizontal arm machines, Gantry machines, Articulated arm machines, Bridge machines) Optical Digitizers and Scanners (ODS) (3D laser scanners, White light scanners, Laser trackers) |
| By Application | Automotive, Industrial, Aerospace, Power generation, and Others |
| Report Coverage | Company Ranking and Market Share, Total Revenue Forecast, Growth Factors, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru] |
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Key Market Highlights
- The global metrology services market size is anticipated to surpass USD 2.8 billion by 2030 and grow at a CAGR of 5.8% during the forecast period (2022-2030).
- Globally, metrology services are separated based on product: coordinate measuring machines (CMM) (gantry machines, bridge machines, articulated arm machines, horizontal arm machines) optical digitizers and scanners (ODS) (3D laser scanners, white light scanners, laser trackers).
- Based on the application, the market share is segmented into five groups: automotive, aerospace, power generation, industrial, and others.
- The market is geographically separated into five regions: Europe, North America, South America, the Asia-Pacific, and the Middle East and Africa.
- North America and Europe are anticipated to support the industry growth during the forecast period in terms of the large demand for precise components to manufacture top-quality end-products, especially in aerospace and automotive.
Metrology Services Market Segmentation Details:
Based on product, the coordinate measuring machines (CMMs) segment contributed the largest revenue share to the metrology services market statistics. The CMM category comprises devices that feature an electric probe, controller, and metrology software for measuring the geometry of any physical part by sensing the key points on the subject surface. Thus, a large number of industrial manufacturing facilities include CMM due to the advantages such as the scope of upgrading existing software, product innovations that function in less controlled environments, and others.
Based on application, the aerospace segment is anticipated to support market growth with increased revenue shares. Metrology services are highly featured in the aerospace industry to measure the dimensions of complex components such as engines and turbines. Multiple metrology tools such as vision measuring machines, small tool instruments, data management, and form measuring along with CMMs are used to carry out such dimensional measurements.
Based on region, North America is anticipated to support the market growth in terms of volume. The large presence of technologically advanced industrial facilities offers lucrative opportunities for market growth in terms of quality in-line measurement techniques. Additionally, the growing disposable income and standards of living of the population also allow businesses to expand their focus on providing quality end-product.
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Competitive Landscape
The research report published on the metrology services market focus on offering a comprehensive analysis of several decisive indicators such as SWOT analysis, market dynamics, segmental analysis, and others. From the point of view of market players and their product portfolios, many aspects have been examined within the report for getting an inclusive understanding of business collaborations, market trends, business strategies, product launches, and product developments.
List of Major Metrology Services Market Players
Further, the in-depth evaluation offered by the market research report offers a deep understanding of several growth insights across technological advancements, product applications, innovative launches, business strategies, and recent mergers and acquisitions to understand the latest market statistics. Mentioned are the major market players currently operating in the market circumstances —
- Hexagon AB
- Carl Zeiss Corporation
- Nikon Metrology Inc.
- Trescal SA
- Optical Metrological Services
- Danish Micro Engineering A/S
- FARO Technologies, Inc.
- Renishaw plc
- Apex Metrology Ltd
- Optical Gaging Products, Inc.
- Atos Se
- Infosys Ltd
- Kofax Ltd
- Eley Metrology Limited
Global Metrology Services Market Segmentation:
- By Product
- Coordinate Measuring Machines (CMM)
- Gantry machines
- Bridge machines
- Articulated arm machines
- Horizontal arm machines
- Optical Digitizers and Scanners (ODS)
- 3D laser scanners
- White light scanners
- Laser trackers
- Coordinate Measuring Machines (CMM)
- By Application
- Automotive
- Aerospace
- Industrial
- Power generation
- Others
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